Indonesian Oil Reserve to Last for 20 Years

Husen Miftahudin    •    Minggu, 04 Oct 2015 16:54 WIB
Indonesian Oil Reserve to Last for 20 Years
An oil rig in Indonesia. (Photo: Antara / Wahyu Putro A), Bandung: Executive Director of Energy Watch Mamit Setiawan mentioned that Indonesia is to become a net importer within the next couple of years, if it fails to find new oil reserve. Currently, Indonesia's oil reserve is only at 3.3 billion barrels, to last for only 20 years.

"If a new field is not found, it is estimated that within 20 years, we will still experience a production decline of 200,000 barrels per day. If so, our oil might run out as our needs are estimated to reach two million barrels per day," said Mamit, in a discussion of 'Studying Gas Price for Industry', held by the Industry Media Forum (Forwin) in Cipaku Hotel, bandung, Friday, October 2, 2015.

Moreover, he added that of Indonesian gas reserve, based on 2012 data, is at 104.71 Trillion Square Cubic Feet (TSCF). Mamit mentioned that the gas reserve is only 1.6 percent of the total world gas reserve. 

"If calculated, more or less we still have 60 years with the current production level and a note that we do not find new gas reserves," he explained.

Mampir added that the government should find a solution on how to utilize the gas reserve the best they can and to dig out new reserves. If not, he mentioned, Indonesia will only has a story to tell its grandchildren that Indonesia had oil and gas.

"Our oil and gas reserve will become a story when our grandchildren are grown up. When Indonesia has abundant gas, but unable to be utilized," said Mamit.


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